Bank of San Luis Obispo v. Pacific Coast Steamship Co.

This action was commenced on the third day of June, 1890, to recover from the defendant, as a stockholder in the San Luis Hotel Company, a corporation, its proportion of an indebtedness alleged to be due from said hotel company to the plaintiff.

It is averred in the complaint that at all the times mentioned therein the capital stock of the San Luis Hotel Company was $75,000, divided into 750 shares of the par value of $100 each, and that the defendant was the owner of 92.14 shares of the said stock; “that on the thirtieth day of December, 1886, said corporation, the San Luis Hotel Company, borrowed from the plaintiff, and the plaintiff loaned and advanced to it, said San Luis Hotel Company, the sum of $29,177.66, and on said day the said San Luis Hotel Company gave its promissory note to the plaintiff for said sum' of $29,177.66, which note is in the words and figures following, to wit”: (then setting out a copy of the note, dated December 30, 1886, and payable six months after date).

It is further averred that on or about the eleventh day of April, 1890, an action was commenced against the said hotel company to recover the amount due on said note for principal, interest,…